Practice What You Preach

Recognizing the need to evolve within a rapidly changing accounting industry, Joe Montgomery III of Montgomery & Co CPA began researching how quickly technology was changing the status quo. Joe saw how imperative it was to transition into the cloud.

“We scrambled to learn as much about the different technologies available, I implemented a ‘do or die’ mentality within our own practice. I quickly realized it would be impossible to advocate the benefits of the cloud to our clients without doing it ourselves.”

While meeting expected resistance from partners within the practice, Joe began the slow transition to QuickBooks Online (QBO). The process was tedious and at times he wondered if they had made the right choice, but decided to stay the course believing that, ‘if you force yourself to make a change, you have to stick with it’. When Joe initially reached out to Receipt Bank in May, he was looking for a way to automate processes for his bookkeeping clients. The existing approach was highly labor intensive causing the entire staff (including the Partners) to manually enter data to match the client demand. Joe acknowledged that it was inefficient to have such valuable resources occupied with ineffective tasks and decided to turn to Receipt Bank.

Applying their do or die mentality, they began to use Receipt Bank and QBO within their own practice first. As a result, Danae, the office manager, reported at least two hours of time saved a week. She’s no longer chasing paper around the office and all but eliminated their data entry into QBO. In addition, the owner, Joe Montgomery II, has saved nearly two hours a week compiling, reviewing and approving internal expenses.

When asked what Joe would say to accountants and bookkeepers that are hesitant to use Receipt Bank, his exact words were:

“Everyone is going to do it, and if you don’t - you’re going out of business. From a practical point, it’s in our best interest to serve our clients’ interests. If you don’t want to waste any time inputting data and are ready to provide higher level advisory services - you need to use Receipt Bank. If you want carpal tunnel and to be bored - don’t change anything”.

Montgomery & Co is a perfect example of a forward thinking firm that is transitioning themselves to meet the needs of their evolving client base. Joe understands that in order to become that trusted advisor - he needs to believe in the products and solutions he’s offering his clients. Taking the initiative to implement Receipt Bank and QBO internally allows Montgomery & Co to effectively communicate the value of their offering to their clients.

To learn more about utilizing your free Receipt Bank partner account for your firm, get in touch with your account management team partners@receipt-bank.com!